Common use of ERROR ACCOUNT Clause in Contracts

ERROR ACCOUNT. If required by PFD, the IB shall create and maintain with PFD at all times one or more error accounts for the reconciliation and payment with respect to Customer Account debits, and disputed or erroneous transactions. The IB shall deposit therein such amounts or collateral as PFD may require from time to time.

Appears in 2 contracts

Sources: Introducing Broker Agreement, Broker Agreement